Celgene, Agios Settle $1B UPenn Cancer Research Suits

Law360, New York (September 4, 2012, 1:19 PM EDT) -- Agios Pharmaceuticals Inc. and Celgene Corp. have agreed to settle two lawsuits brought by the University of Pennsylvania in New York federal court over a former university researcher's alleged use of more than $1 billion worth of patentable, university-funded cancer research to form Agios, the companies announced Friday.

While most of the terms of the settlement are confidential, Cambridge, Mass.-based drug developer Agios and the university have drawn up a licensing agreement for intellectual property focused on developing cancer metabolism diagnostic products as part of the...